SAMA lifts ban on SABB Takaful’s saving & protection policies

17/03/2018 Argaam

The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank and the insurance market regulator, will allow SABB Takaful Co. to issue and renew saving & protection insurance policies starting Thursday, March 15, SAMA said in a statement to Tadawul.

 

The move came after the company took necessary measures to apply regulatory requirements.

 

The insurer was banned in October from issuing or renewing saving & protection insurance policies as it failed to meet requirements for insurance claims and internal auditing, Argaam previously reported. 

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